Deals

Press release: Euromoney Institutional Investor PLC (“Euromoney”), the international business-information and events group, announces today that it has acquired 100% of Seven Site Media Limited, trading as TowerXchange. Under Stock Exchange rules, this is a Class 3 transaction.

TowerXchange is a fast-growing information and events business which has become the leading source of information on the tower market, the infrastructure supporting the growth of the mobile telecoms market. Acquiring TowerXchange is part of Euromoney’s telecoms strategy to facilitate industry collaboration and trading in areas ranging from pricing to standards across the telecoms ecosystem.

Rosalind Irving, Euromoney Divisional Director responsible for its telecoms businesses, said: “TowerXchange is an excellent business which serves an increasingly important part of telecoms infrastructure. It is strategic for Euromoney because it is highly complementary to the markets served by TelCap, BroadGroup (in which we invested in March) and Layer123 (acquired in April). We look forward to working with the expert TowerXchange team.”

Kieron Osmotherly, CEO of TowerXchange, said: “TowerXchange are excited to be joining the Euromoney family, enabling us to accelerate our events’ growth, cultivate new business intelligence services and expand ours and our customers’ insights into adjacent segments of telecom infrastructure.”

Around 60% of suppliers to the UK’s event industry are facing collapse within three months unless event businesses receive further support from the government. Of those businesses, 6% said they are unlikely to make it to the end of April.